Judy Shelton Restoring Order to the Global Currency System
Gesara.news » News » Judy Shelton Restoring Order to the Global Currency SystemNews Date: July 21, 2020
President Donald J. Trump Announced Intent to Nominate Individuals to Key Administration Posts,
Judy Shelton of Virginia, to be a Member of the Board of Governors of the Federal Reserve System for the remainder of a 14-year term expiring January 31, 2024.
She is author of:
The Coming Soviet Crash: Gorbachev's Desperate Pursuit of Credit in Western Financial Markets.
Money Meltdown: Restoring Order to the Global Currency System.
Judy Shelton interview on gold standard:
"I like the idea of a gold backed currency, it could even be done in a Cryptocurrency sort of way.
A unified money system, so when you talk about the international marketplace, everyone is playing on a level monetary playing field.
I don't see it so much as returning [to the gold standard], more like 'back to the future.' I think that what a gold standard stands for is monetary discipline for its own sake. Money is supposed to be a unit of account, a reliable measure and a dependable store of value. It really shouldn't be subject to who's the chairman of the Federal Reserve.
How can a dozen [...] people meeting eight times a year, decide what the cost of capital should be versus some kind of organically, market supply determined rate? The Fed is not omniscient. They don't know what the right rate should be. How could anyone? [...] If the success of capitalism depends on someone being smart enough to know what the rate should be on everything we're doomed. We might as well resurrect Gosplan.
A linked system could allow currency convertibility by individuals (as under a gold standard) or foreign central banks (as under Bretton Woods). Either way, it could redress inflationary pressures.
Russian financial messaging system will be able to replace SWIFT - financial infrastructure will work smoothly - Russian Central Bank Chair.
Stocks booming in Chinese SWIFT alternative - CIPS.
The Cross-Border Interbank Payment System (CIPS) is a payment system that offers clearing and settlement services for its participants in cross-border RMB payments and trade.
It is a significant financial market infrastructure in China.
CIPS is sometimes referred to as the China Interbank Payment System.
Bank of Russia Resumes Gold Buying After Two Years on Sidelines.
Russia-Ukraine war is 'a financial war now': Deutsche Bank
In 2019, Goldback president Jeremy Cordon said he had a dream in which he saw people paying for groceries using golden bills.
Gold is the best money, but it can't buy a loaf of bread.
To solve this problem, Cordon used new technology to create a bill that sandwiches a particle-thin gold layer between two layers of polymer.
The result can be worth as little as $3.80.
1.President Trump's nominee for the Federal Reserve board of governors, Judy Shelton, has advocated for getting back to a gold standard, possibly "in a very cryptocurrency way". She Faces Senate Committee Vote This Week;
2.There are close connections or relations between Donald Trump and Ripple board;
3.Ripple XRP already has Support in the US Federal Register New Rule.